Coda Minerals Limited (“Coda” or “the Company”) is pleased to announce that pursuant to the letter to shareholders dated3rd April 2020, the tender period for the voluntary off-market share sale facility (“Facility”) closed on 14th May 2020.The Company is currently working with CPS Capital to place stock tendered by shareholders under the Facility. The indicative timeline noted in the letter to shareholders dated 12th March 2020 has been extended by six weeks in line with the extension of the tender period. The amended indicative timetable is set out below.
Facility closing date – last date for submission of Tender Forms5:00pm (Sydney time), 14 May 2020
Transfer of shares to SaleCo18 May 2020
Proceeds of sale to be transferred to participating shareholdersTransfer of shares sold to buyers under the FacilityStatements of sales to be sent to participating shareholders10 July 2020.
The Company expects to confirm the status of the stock placement prior to the end of June 2020 and will provide updates via the Company’s website at www.codaminerals.com/investors.
As I long time investor who is as equally frustrated with management and how they destroyed shareholder value by selling out to Ansteel, it will be interesting to see how many shares went into this offer.
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